UBS Financial Services released a report detailing how it expects medtech procedures to potentially keep dipping during the COVID-19 pandemic. The report highlighted a quicker-than-expected recovery in the second quarter after U.S. hospitals began canceling, delaying and deferring elective procedures in late March as the pandemic took hold. However, UBS still expects third-quarter medical procedures […]
coronavirus
Here at MassDevice — medtech's online business journal — we're covering news about the coronavirus (COVID-19) pandemic daily. Here is the latest about coronavirus and the medical device industry, regulatory changes related to the pandemic, new tests for the virus, vaccine development, and much more.
CB Insights reports digital health, global healthcare investment funding records
CB Insights reported record funding for global healthcare and digital health, among other milestones during the third quarter. Global healthcare investments to private companies hit a new quarterly record of $21.8 billion in the third quarter of this year, with a total of 1,539 equity investments in the three-month period growing 18% from the previous […]
Advamed: Diagnostic COVID-19 tests shipments hit 200M
Total U.S. shipments of COVID-19 molecular diagnostic tests have reached 200 million, according to AdvaMed’s COVID-19 diagnostic supply registry. A breakdown of the data shows that diagnostics companies are shipping, on average, more than 1.4 million molecular tests each day. “For the past few months, our diagnostics companies have made it clear they’ll do whatever […]
Moderna CEO sees EUA for COVID-19 vaccine in December
The CEO of Moderna (NSDQ:MRNA) thinks the FDA could grant an EUA for its COVID-19 vaccine candidate in December, depending on whether it sees positive interim clinical results in November. Moderna CEO Stéphane Bancel’s comments — made during The Wall Street Journal’s annual Tech Live conference yesterday and reported in the newspaper — suggest that the […]
How SpaceX is helping Medtronic prepare for the next pandemic wave
As COVID-19 cases erupted around the globe earlier this year, Medtronic (NYSE:MDT) faced unprecedented demand for its ventilators. At first, Medtronic engineer Matt Phillips wasn’t sure how the company was going to supply enough ventilators to meet the surging global need. Then Elon Musk called with a proposal. Get the full story on our sister site, Medical […]
Philips rises on Street-beating Q3
Royal Philips (NYSE:PHG) shares ticked up today on third-quarter results that came in ahead of the consensus forecast. The Amsterdam-based company posted profits of €340 million, or €0.37 per share, on sales of €5 billion for the three months ended Sep. 30, 2020, for a 63.5% bottom-line gain on sales growth of 5.9%. Adjusted to exclude […]
FDA issues EUAs for two at-home COVID-19 tests
Two companies announced today that they received FDA emergency use authorizations (EUAs) for at-home COVID-19 diagnostic tests. Eurofins (Paris:ERF.PA) and DxTerity Diagnostics each received the authorization for separate COVID-19 tests, one of which is nasal-based and the other saliva-based. Luxembourg-based Eurofins’ at-home nasal PCR test is touted as a minimally invasive and quick option that offers […]
MedTech 100 roundup: Industry continues its ascent
Stocks in the medtech industry maintained their upward trajectory, topping last week’s peak with yet another rise to new heights. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 95.66 (Oct. 16), marking a 0.6% gain from the 95.05 points registered at the end of […]
Supply chain tool IDs COVID-19 supply shortages
The American Society for Microbiology (ASM) has developed an online platform to identify COVID-19 and non-COVID testing supply shortages. In partnership with the Associaton for Supply Chain Management (ASCM), ASM developed the platform to identify and monitor the testing supplies to be made aware of shortages in real-time, according to a news release. The tool […]
NIH launches drug trial for deadly cytokine storm
The National Institutes of Health today launched a Phase 3 clinical trial to evaluate three immune modulator drugs in hospitalized adults with COVID-19. Some COVID-19 patients experience an immune response in which the immune system unleashes proteins that trigger inflammation, otherwise known as a cytokine storm, which can lead to acute respiratory distress syndrome, multiple […]
Intuitive Surgical up on mixed bag Q3
Intuitive Surgical (NSDQ:ISRG) shares ticked slightly up today on third-quarter results that were mixed compared to the consensus forecast. The Sunnyvale, Calif.-based company posted profits of $313.9 million, or $2.60 per share, on sales of $630.6 million for the three months ended Sept. 30, 2020, for a massive bottom-line gain from $68 million in profits this […]